Global Network of Illicit Finance and Terrorism: A Closer Look at Key Players
Algeria, Lebanon, Saudi Arabia, Sudan, Türkiye, and UAE Play Critical Roles
In an effort to disrupt Hamas’s sources of support, the United States has targeted financial intermediaries between Iran and the Palestinian terrorist organization. This network of illicit finance and terrorism is a complex web that spans across multiple countries, including:
- Algeria
- Lebanon
- Saudi Arabia
- Sudan
- Türkiye
- United Arab Emirates
According to a recent FinCEN Advisory, these countries have been identified as key players in facilitating financial transactions for Hamas.
The Need for Vigilance
The advisory highlights the need for financial institutions to be vigilant in identifying and reporting suspicious activity connected to the organization. In October 2023, the US Treasury Department sanctioned numerous individuals and entities linked to Hamas’s financing network, following a series of terrorist attacks on Israel claimed by the organization.
Hamas’s Financing Tactics
Hamas has been known to use:
- “Sham” charities: foreign non-profit organizations that claim to provide humanitarian assistance but instead funnel money to terrorist organizations.
- Crowdfunding and social media platforms: to raise funds under the guise of humanitarian or charitable causes worldwide.
- Virtual currencies like Bitcoin: to safeguard the anonymity of its donors. However, there is evidence that the organization has reacted to law enforcement action targeting its use of cryptocurrencies.
The Houthis: An Iran-Backed Islamist Movement
The Houthis, also known as Ansarallah, are an Iran-backed Zaidi Islamist movement that emerged in Northern Yemen in 2004. In 2014, the group launched a military campaign against the Yemeni government.
Like Hamas, the Houthis have been linked to illicit finance and terrorism. They have received financial support from Iran, which has provided them with weapons and training. The Houthis have also been accused of human rights abuses and have been involved in attacks on civilians and military targets.
Disrupting Illicit Finance and Terrorism
The global network of illicit finance and terrorism is a complex issue that requires cooperation among governments, financial institutions, and law enforcement agencies to disrupt and dismantle. By shining a light on key players like Algeria, Lebanon, Saudi Arabia, Sudan, Türkiye, and the UAE, we can better understand the scope of this problem and work towards a more secure future.
Sources:
- US Treasury Department
- FinCEN Advisory
- International Crisis Group
- Human Rights Watch
- Al Jazeera News Agency